Engie SA completed the acquisition of UK Power Networks Holdings Limited from Devin International Limited, CKI Number 1 Limited and Eagle Insight International Limited.
Engie SA (ENXTPA:ENGI) entered into an agreement to acquire UK Power Networks Holdings Limited from Devin International Limited, CKI Number 1 Limited and Eagle Insight International Limited for £10.5 billion on February 25, 2026. A cash consideration of £10.5 billion will be paid by Engie SA. The enterprise value of UK Power Networks at 100% stands at £15.8 billion. ENGIE plans to finance this acquisition through a mix of debt and hybrid issuance for ?5 billion (approximately £4.4 billion), and a disposal program of ?4 billion (approximately £3.5 billion) by 2028. Engie also intends to raise up to ?3 billion (approximately £2.6 billion) equity through an accelerated book building to support its long term commitment to a strong investment grade rating. This transaction is expected to have an immediate positive impact on Engie?s results and to be accretive from the first full year following completion of the acquisition. The net proceeds to be received by the Group are intended to be used by the Group to pursue new investment or acquisition opportunities and for general working capital.
The transaction is subject to subject to certain regulatory approvals, which are customary for this type of transaction. The transaction is also conditional on approval by the independent shareholders of the Hong-Kong listed parent companies of the sellers. Completion of the transaction is expected in mid-2026. As of April 8, 2026, CK Infrastructure Holdings Limited announced that the following documents in connection with the special general meeting of the Company to approve CKI Sub's Disposal has been published.
Bank of America Corporation acted as financial advisor for Engie SA. BNP Paribas SA acted as financial advisor for Engie SA. Rothschild & Co SCA acted as financial advisor for Engie SA. Frédéric Bouvet of Herbert Smith Freehills Paris LLP and Caroline Rae, Silke Goldberg, Veronica Roberts and Chris Davis of Herbert Smith Freehills Kramer LLP acted as legal advisor to Engie SA. Rob Cleaver, Henrietta White, Namrata Shah, Roger Cheng and Chris Smaleof Linklaters LLP acted as legal advisor to Devin International Limited, CKI Number 1 Limited and Eagle Insight International Limited.
Engie SA (ENXTPA:ENGI) completed the acquisition of UK Power Networks Holdings Limited from Devin International Limited, CKI Number 1 Limited and Eagle Insight International Limited on May 7, 2026. On completion, Eastern Power Networks plc, London Power Networks plc and South Eastern Power Networks plc are wholly owned subsidiaries of UK Power Networks Holdings Limited.
ENGIE is a major player in the energy transition, whose purpose is to accelerate the transition towards a carbon-neutral economy. With more than 90,000 employees in 30 countries, the Group covers the entire energy value chain, from production to infrastructures and sales. ENGIE combines complementary activities: renewable electricity and green gas production, flexibility assets (notably batteries), gas and electricity transmission and distribution networks, local energy infrastructures (heating and cooling networks) and the supply of energy to individuals, local authorities and businesses.
Every year, ENGIE invests on average EUR 12 billion to drive forward the energy transition and achieve its net-zero carbon goal by 2045.
The turnover achieved in 2025 amounts to EUR 71.9 billion. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, Euronext 100, FTSE Euro 100, MSCI Europe) and non-financial indices (DJSI World, Euronext Sustainable - Europe 120 / France 20, CAC 40 ESG, MSCI EMU ESG screened, MSCI EUROPE ESG Universal Select and Stoxx Europe 600 ESG-X).
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Engie SA completed the acquisition of UK Power Networks Holdings Limited from Devin International Limited, CKI Number 1 Limited and Eagle Insight International Limited.
